Wow wow wow ...... I sense alot of envy & jealousy

Someone actually worked hard to upgrade himself from B40 situation & you salty motherfuxxxx couldn't accept it cant you ? hats off to the gentleman that made it

As for the rest of envious motherfuxxxx, work hard & grind la

Yeah agree 4 year time change a lot of things, if for the exgressive one, 2 year jump twice at commercial industry & environment, fresh graduate with 3500 salary after 2 jump now may can earn 6K monthly.

Rental price is based on market supply & demand so not point to capped for it, but capped on property price is doable, at least can reduce the desire of rich people buying the house by using proxy method.

Hardly. He’s working within the rules to enrich himself which is fine. Affordable housing is just that it’s meant to provide homes for the disenfranchised not to profit off. Is the whole point of this scheme to provide affordable housing or subsidised investment property?

It’s just fairer that if people who wanted to or couldn’t afford to buy be given a place to rent at an affordable price. This is how social housing works in many countries.

And watch your language, profanity without wit shows a complete lack of intelligence and upbringing.

This post has been edited by Cavatzu: Sep 27 2023, 09:29 AM

In general, I am supporting the guy that went through hardship of B40 & turning his life around. I mean this is no small feat & not everyone can do what he did. Hats off to him !!

As for the question of selling & rental price, I believe that open market dictates this. At the end of the day it's willing buyer, willing seller. With that said, I will not be surprised if the lelong unit of Kiara Kasih fetches ~RM500K in the upcoming auction.

I mean even a rumawip in Bukit jalil fetches upto RM430k as rightfully pointed out by AskarPerang. Kiara kasih is freehold property & is located in Mont Kiara. Additonally, there will be a direct access road that will be built from Kiara Kasih to Solaris in 2025. MRT3 is also rumoured to be closeby Kiara Kasih. I think this factors has to be priced in as well.

This is just my 2cent

This post has been edited by zulfadzlis: Sep 27 2023, 10:07 AM

This is my point. You got something that was protected from market price and you expect it to perform like it does in the market. Do you see the inconsistency there? It runs incongruent to the concept of affordable/social housing. To me it’s a failure of policy and implementation not necessarily on the buyers who have used it as an investment tool.

So you still see ministers bleating on about insufficient affordable housing when they dropped the ball on this in the first place.

I’m not trying to offend anyone but rather having an honest debate about what social housing is and who it should benefit.

Your argument is both inconsistent & incoherent with the idea of "auction". When it comes to auction there is no ceiling price or price capping, it is a free market. It's a willing buyer, willing seller basis. The sooner you comprehend this simple concept, the better.

Social housing or not, the mass market will still pay big bucks for something that is located in Mont Kiara & freehold. If someone can get it for RM500k, I will still consider it as a steal. In fact, I am personally going to bid for this project & I can attest that it will be a war during the bidding stage. This is a free market.....anything goes

You are describing what it is now. I’m advocating for what it could be - proper homes for people in need. If in the first place people didn’t want to live in these subsidised homes then rent it back to those in need at a set price. Keep it restricted for 10 years or something then it becomes an unrestricted unit similar to HDB even if it isn’t as onerous as their MOP (minimum occupation period)

In regards to auction why not resell to others on the eligible list? You’ve described a really shifty strategy in this instance - get Lelonged out of a 300k property and pocket 200k (maybe) bypassing the resale restriction and making it a profitable transaction.

This post has been edited by Cavatzu: Sep 27 2023, 11:21 AM

Exactly, that's why rumahwip is going to be a failed social housing project. There are so many loopholes hence not really benefiting the b40 or m40, end up being taken advantage of.

BTW, it's deeply subsidised from your tax money so if it didn't benefit the way it should then everyone is on the losing end

Hi, I am an owner here. A lot of interesting conversation over here lol, let me share some perspective from an owner point of view.

Anyway all properties will have its pros & cons, all government scheme/policies will always have its flaws & there will be opportunist looking to take advantage. This project have started a long time ago & then covid happened, delays happened along the way. Some of us waited 5 years to receive the keys, over this 5 years plenty of things would have changed. I think many people have the mindset that rumawip is a low cost condo for poor uneducated people or at least in my circle of friends when I encourage them to apply but actually if you drive around KK carpark you'll be able to gauge the demographic is different. You'll see residents driving all sort of imported cars, mazda, honda, bmw, merc...heck I even saw an owner with a porsche & mustang before. Lets not judge people, many people lost jobs during covid, some found new businesses to venture into & upgraded their income. Even personally myself, my income is much more than what I was earning before when I applied for this project. Majority of the purchasers were educated young working adults at that point of time, you'll notice that during the balloting event if you attended.

As for the low rental, obviously everyone just got their keys not long ago & it will take some time for market to absorb the supply. Based on our survey previously more than 50% of the owners wanted to rent their unit out & those 1.2k rental I believe is bare unit. Mind you developer did not give anything, no kitchen cabinet, no AC point, nothing. There'll be owners who don't want to spend money hoping to rent out these bare units, anyway if you're going to bid for the auction unit I believe you would have already engage some agents to view some rental units & you'll know what is the asking rates. Renting out above 2k? Well not sure how feasible it is, if I were a tenant I think there are better options in the market than to rent here.

Some owners did partition for their living room for an additional room, some rent out to foreigners (illegally), some did airbnb. The owners have built a community & have identified a couple of these units & reported to the management & they are working with the authorities to take further action on these capitalist. No doubt there are many improvement can be done for this condo, it takes time & money. In fact some of the owners have already donated some clamps to the management to resolve some parking issues.

I think if you are getting the auction unit for own stay is not a bad idea as long as you know what you are buying, dont expect a Ferrari for the price of a myvi. If for investment, well there are many factors to consider then.

Pros:
- For 300k, its a no brainer. Cheap.
- Great location, nearby Mont Kiara, Sri Sinar just 10 mins away. Plenty of good food around
- Resident have built a good community & closely working with management
- Cheap maintenance fees
- Potential future MRT station nearby
- Bon Kiara to open up road linking to publika

Cons:
- Depending on your unit, facing highway may have some noise issues
- Limited number of lift for high density
- No gym, limited facilities
- Only 1 parking per unit
- Narrow road on Jln Duta Kiara, people parking at roadside


PS: I received a lot of application to join the owners group recently from interested buyers, please don't bother to apply as we wont be adding anyone without any valid proof of ownership. I wish those who are bidding all the best, feel free to approach the FB group admins for further assistant in the future after you won the unit. I sincerely hope the existing owner will pay off the loan so the auction unit will be cancel off.

Your neighbors are all paying 300k for the unit and you are paying 200k more. Not sure if that's a wise move. You will never be able to compete with the rest on rental, if they decided to throw price on the rentals they'll still be able to survive, and you are not.

Plus most of Mont Kiara lands are freehold so KK being freehold is not something that stands out. Plus it being a rumawip, do you think if freehold/leasehold is a concern? You can't compare it with other old condos in mont Kiara that is well maintained, the demographic is just different.

It's nice seeing an owner here. To be frank, I actually applied for this project in 2018 and I attended the ballot session on June 2018. Unfortunately/or fortunately I got a unit that was facing the highway and it was a low floor (level 10 if I'm not mistaken). After much consideration I decided not to proceed as I do not want to be tied down to a unit that I/ future owners may have concern.

I got another rumawip in April 2019 and it was VPed on April 2021. It has been rented out for 2 years now and the return can easily cover the installment + maintenance, and then some.

Over the past few years I have been closely following the progress of KK because it was actually the first project that I balloted. Even though I balloted for KK first, however it VPed two years after my current rumawip is completed. I believe this is something the buyers of KK has to ensure, 5 years of waiting is indeed long and it has opportunity cost there.

If you ask me if I would choose KK again, yes only if I get the non-highway facing unit/high floor. Do I regret balloting for other rumawip project, nope because for the past 2 years the rental income is actually quite significant, that I would not have gotten if I balloted KK.

Yes, the construction duration for KK was already pretty long initially compare to other projects then unfortunately covid happened, unavoidable more delays & I guess many projects out there also face the same fate during covid. Developer requested extension twice from the gov but thankfully they delivered to the owners slightly earlier than the last date of the extension. Fortunately for me, I got the unit facing MK. For the price I paid, its one of the best investment I ever made in my life, I have zero regrets. Even after the moratorium ends I won't sell it, will just pass it over to my next generation. Rental can definitely cover the installments with positive cash flow

I don't know much about other rumawip but so far as I know for KK, a few owners are looking to join the auction as well. Having an additional carpark for the current resident would be nice

The entry price of RM300k is surely lucrative. I would have bought the unit in a heartbeat. However, I am not entitled to a rumawip project due to my income being above the threshold limit. So, I have no choice but to use the auction route.

I have already personally seen the unit through some agents for the bidding process preparation. Upon my assessment, I can definitely say that Kiara Kasih on the top tier of rumawip. They have established a great community (I have seen the whatsapp shared by the agent), the mentality of the residents that emphasizes improvement of the residence & the income level that are skewed more towards T20 ( I have seen the cars that are parked there).


Upon multiple deliberation, I can safely say that I will bid for the unit for my own stay & RM450k is a comfortable figure that I am willing to go for. However, I will not be surprised if people are willing to push the number above ~RM500k. I have done my study & I suggest you do the same

Hmm your income is above the rumahwip threshold and you’d pick this for ownstay? There would be better quality units in the subsale market I’d say if you were willing to go up to 450k.

I want a property in MK that I can get below RM500K. I have compared between Aston Kiara auction unit vs Kiara Kasih. I have decided to go for Kiara Kasih after some extensive research ( I do not wish to share).

Cool...Thanks for the information. Was from Johor, I didn't know that it could be rented out. I applied for RMMJ for a few years but never get replied

Just let him, he done his due d which is not for sharing. Good luck to him.

Once live in rumawip will know the pros and cons. Later wanna sell then auction back lo.

Now that you have mentioned Aston Kiara 3, some of the units are for sale for only 600k for 1500 sqft fully furnished.

Wonder what is the push factor in Aston Kiara for someone to even consider going for rumawip at 450k at 850 sqft.

Mgmt fee can go to 1k if not mistaken

That fella is a bit antagonistic. Started cursing at me to defend rumahwip as an investment tool. Somehow he’s convinced that it’s where T20s deign to live. To each his own.

This post has been edited by Cavatzu: Sep 29 2023, 11:34 AM